South African cloud-based service provider, KnowledgeTree has announced the closing of a $4.75 million Series-B round of venture capital financing.<\/p>\n
KnowledgeTree says it will use the new funds to capitalise on significant interest in its social and enterprise-focused document management solutions.<\/p>\n
The latest round includes funding from River Cities Capital Funds, Core Capital Partners, Hatteras Funds, and lead Series-A investor, Hasso Plattner Ventures Africa.<\/p>\n
KnowledgeTree says its cloud-based tools help companies – including Alcatel-Lucent, Inmarsat and Vanderbilt University create – discover and manage business documents anywhere.<\/p>\n
Delivered through the browser as software-as-a-service (SaaS) and through mobile applications, KnowledgeTree can be customised by business users without developer support, providing rapid return on investment, it says.<\/p>\n
KnowledgeTree also announced two additional members to its board of directors: Edward McCarthy, Raleigh-based managing director of River Cities Capital Funds; and Will Dunbar, managing director of Core Capital Partners.<\/p>\n
“Every single organisation struggles to create, organise and manage its business documents. That’s why this is a multi-billion dollar market,” said McCarthy. “But what makes this opportunity special is KnowledgeTree’s enterprise-ready, cloud-based solution. The team has already proven that potent combination at hundreds of companies globally. Now I’m excited to see it further disrupt the historic players in this space.”<\/p>\n
“At many of the world’s largest organizations, KnowledgeTree has proven the value of a structured social approach to managing documents,” said Daniel Chalef, chief executive officer of Knowledge Tree.<\/p>\n
“With the new funding, KnowledgeTree will rapidly scale our success in customer acquisition while evolving our product’s features to meet the market’s need for business-centric and social document management tools.”<\/p>\n
KnowledgeTree has its roots in South Africa, but has since moved its headquarters to Raleigh, North Carolina. Company co-founder,\u00a0Chalef, and COO, John Thorne are both South Africans, whilst the company still boasts a large presence in Cape Town.<\/p>\n
Hasso Plattner Ventures Africa, based in Cape Town, South Africa, is the largest technology focused venture capital fund in Africa with most of its capital committed by SAP co-founder and Chairman Prof. Dr. Hasso Plattner.<\/p>\n
The company’s portfolio includes KnowledgeTree and African mobile telecommunications company Inala Technologies.<\/p>\n
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